Suspect in $5M Ponzi scheme returned to Montana

BOZEMAN — A Bozeman-area man who fled the state after being charged in a $5 million investment scheme has been returned to Montana after his arrest in Kansas earlier this month.

The Bozeman Daily Chronicle reports that Richard F. Reynolds was being held in the Gallatin County jail on $10 million bond Wednesday. He is scheduled to be arraigned July 24 on 20 felony counts for allegedly operating a Ponzi scheme that scammed investors in 21 states and six foreign countries out of more than $5.38 million.

FBI agents arrested Reynolds at a hotel in Overland Park, Kan., on July 5. Reynolds waived extradition and was booked into the jail on Saturday.

Authorities say Reynolds fled Montana in February after being charged in the Ponzi scheme.

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